Affordable Home Ownership in Tameside
To enable the delivery of affordable housing in the borough the council works with several Housing Associations or Registered Providers via Tameside’s Register Provider Partnership. This means that affordable homes are being delivered in a balanced mix of tenures and types of housing, with the partnership enabling and monitoring their delivery.
Many of the new affordable homes built are classed as social housing, there are also other types of Affordable Home Ownership (AHO) being delivered across the borough.
The most common type is Shared Ownership, this is where the buyer purchases an initial share, normally 25-50% of the home, thorough a combination of deposit and mortgage, and then pays the rest as rent, at around 2.75% pa on the unowned equity. For example, if the property’s initial value were £200k, and a 50% share was bought, the rent would be £2,750 pa or £229 PCM, which compares favourably to mortgage finance currently. Additional blocks can also be bought by what is known as “stair-casing” until the proper is owned 100%.
Rent to Buy is the second most common affordable home ownership tenure, this allows a new build home to be rented at 80% of the market value for a 5-year period. This can allow the tenant to save up for a deposit so they can either buy their home outright or convert to Shared Ownership after the initial rented period.
In both tenures, when the properties are bought, either outright or additional equity, it is based on the market value at the time.
There are currently 134 affordable homes/new builds being delivered over the next year and these have either been secured by the Council as a developer contribution via planning obligations (Section 106), or site the Council has supported for Homes England grant funding.
Information on all AHO, on site or currently being marketed, can be found in the table below.
| Scheme | Location | Tenure | Houses | Apartments | |||||
| 2 Bed | 3 Bed | 4 Bed | Studio | 1 Bed | 2 Bed | 3 Bed | |||
| Hollins Grange | Hollingworth | Shared Ownership |  | | |||||
| Rydal Walk | Stalybridge | Rent to Buy | | | | ||||
| St Anne's Place | Audenshaw | Shared Ownership | | | |||||
| Jam Factory | Droylsden | Shared Ownership | | ||||||
| Hartsmead | Ashton under Lyne | Shared Ownership | | ||||||
| Fell View | Ashton under Lyne | Rent to Buy | | | | | |||
| Scheme | Provider | Marketing Link | Completion | ||||||
| Hollins Grange | Great Places | Hollins Grange | Spread from Autumn 2023 to Spring 2024 | ||||||
| Rydal Walk | Jigsaw | TBC via Rightmove | All due Spring 2024 | ||||||
| St Anne's Place | MSV | St Anne's | All due Autumn 2023 | ||||||
| Jam Factory | MSV | TBC via Snugbug | All due Autumn 2023 | ||||||
| Hartsmead | MSV | Hartsmead | All due Summer 2024 | ||||||
| Fell View | One Manchester | Fell View | All due Autumn 2023 | ||||||
For further information please contact: Mick Coogan, Housing Growth Project Manager at michael.coogan@tameside.gov.uk
Our partners include:
Arcon Housing Association
- Great Places Housing Group
- First Choice Homes Oldham
- Jigsaw Homes Group
- Jonnie Johnson Developments
- Mosscare St Vincents
- Irwell Valley Homes
- Southway Housing Trust
- Onward Homes
- One Manchester
- Ashton Pioneer Homes
- Your Housing Group
- Progress Housing Group
- Regenda Homes
- Trafford Housing Trust
